CALABRIA CLAIMS THAT THE PSPA ARE NOT LINES OF CREDIT
The name doesn't matter: line of credit, borrowing right,funding commitment
We know it can't be tapped to leverage FnF but to fund a negative Net Worth(Equity) issuing SPS(obligations/Equity)#Fanniegate @TheJusticeDept @Scotus Image
The key is that it emanates from the provision in the Charter Act called: Authority of UST to Purchase Obligations.Terms and Conditions.
There are 2:
-The original low cost
-The one added by HERA w/ UNLIMITED yield.
@USTreasury can't buy anything w/o an authorization by Congress. ImageImage
HERA's was used for the 10%/NWS div,but it wasn't needed if there is the original,limited to $2.25b because it was set more than 50yrs ago,w/ FNMA only 15b in debt vs $800b in 2008.
The original is called "special borrowing right from UST" by Prof.Nielson(Scotus-appointed amicus) Image
The fact that it was limited to $2.25b is a non-issue since we are talking about vested rights and the PSPA's funding commitment is deemed to have tacitly updated the "credit facility".
An obligation is a compromise of repayment. So,@USTreasury is Equity holder but also creditor.
I guess you know that Preferred Stocks are obligations(debenture)recorded as Equity or,as the UST signals in the PA,"obligations in respect of capital stock".The key for the exception(B) to the FHEFSSA's Restriction on Capital Distributions: reduce the obligations by redeeming... ImageImage
...stocks or ownership interest,i.e.,reduce the SPS,otherwise the capital distributions are restricted when FnF are undercap.
Anyway,Calabria's statement confronts Rosner:"FnF contracted lines of credit".
No one cares. Let's talk about rights and the provision that authorizes it. ImageImage

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More from @CarlosVignote

20 Apr
.@Yale's trash aims at covering up the FHEFSSA's restrictions for undercap and that FnF are congressionally chartered private corps w/ privileges like a CHEAP credit facility(@USTreasury backstop),a Public Mission,prohibition on fees by UST,etc.#Fanniegate @Scotus @TheJusticeDept
A report paid by the sponsors of the Moelis plan(J.Paulson/BX)to make the case for the corrupt plaintiffs:the coverup of the statutory provisions in the FHEFSSA and the Charter Act.
E.g.Module E: HERA,when it isn't a law in itself,but a law that amends the FHEFSSA and Charter Act
If you read HERA,you don't understand anything because everything is "strike_for_";"Section_is amended by inserting_"
Module B: the SPSPA.
Exactly the plaintiffs' litigation strategy: coverup of the full FHEFSSA and Charter,focusing only on HERA's Conservatorship section & SPSPA.
Read 5 tweets
20 Apr
🇺🇸-🇪🇺POLITICIANS' PLAN TO DEINDUSTRIALIZE THE🇺🇸UNCOVERED
The March 31,2021 E.U.'s ruling was a reaction to $HOG's June 25,2018 SEC filing announcing a plan to shift production outside the U.S. to avoid the E.U.'s 25%-50% increased tariffs.
Trump,a cray hired by Pelosi.@WhiteHouse
It took 2 yrs and 8 mths for the E.U. to take up the Article 33 of Delegated Regulation(EU)2015/2446 and claim that the shift in production of HOG isn't deemed to be "economically justified" on the basis of the facts(HOG's SEC filing was their exit strategy) to avoid the tariffs.
🇪🇺's 31 March ruling:eur-lex.europa.eu/legal-content/…
HOG's press release:investor.harley-davidson.com/news-releases/….
🇺🇸deindustrialization translates into more Govt gtee schemes by the politicians for the Mafia. More poor blacks need Govt grants and @SenSherrodBrown can make a living.@USTreasury @SecYellen
Read 5 tweets
5 Apr
1991.THE BANKS' FDI ACT ADDED AN EXACT REPLICA OF FnF's CURRENT RESTRICTION ON CAPITAL DISTRIBUTION +EXCEPTION B:REPAY SPS
Included in the subsection(d)PROVISIONS APPLICABLE TO ALL INSTITUTIONS,of the Section PROMPT CORRECTIVE ACTION(12USC1831o)#Fanniegate @Scotus @TheJusticeDept
Just before the provisions w/ the corrective actions when Undercapitalized, Significantly Undercap or Critically Undercap, because it's for all of them.
In FnF's 1992 FHEFSSA,this restriction appeared individually as a supervisory action for each Capital Classification mentioned.
What 2008 HERA did, is to remove this corrective action from each Capital Classification and put it as a stand alone provision for all of them, a replica of the FDI Act 1991 amendment.
But,instead of placing it on a subsection Provision Applicable To All Institutions,it was added
Read 6 tweets
3 Apr
.@Scotus CAN ONLY RULE ON BREACH OF THE STATUTORY PROVISIONS
A Nationalization is legal, including during a Conservatorship, but FnF have to be in compliance with the law at the time,subsequently, the stocks trade at fair value. This is the Secret Plan.#Fanniegate @TheJusticeDept Image
The Secret Plan was deliberately enabled by the @FHFA's 2011 CFR1237.12(1)for Recap,as SPS were about to be repaid under HERA's Restr On Capital Distrib exception B,the same FHFA did with the FHLBanks to repay the 1989 REFCORP fund.
GOAL: a depressed common stock for the assault. Image
There's no such thing as breaking a law & later require a court to declare Nationalization at a stock price that discounts the scenario w/ all the illegal actions in Conservatorship & under the Charter,regardless that the rogue people now call a Conservatorship "Nationalization". Image
Read 4 tweets
13 Feb
THE EQUITY HOLDERS URGE @Scotus TO IMPOSE PUNITIVE DAMAGES
Besides Moral Damages.
The delay,the Secret Plan and multiple crimes aim at stock price manipulation,not just for the Govt cronies that buy cheap stocks,but also a way to create wealth for the people.COMMUNISM.#Fanniegate
No one files a report 13D Beneficial Ownership,despite being compulsory(SEC rules)regardless of rights.
We rely on different websites that inform about the Institutional ownership,but not all post the same.
-The largest ETF in the world, SPDR S&P500,owns a 1% stake in $FNMA.Also,
the ETF iShares Core S&P500,managed by BLK(source:Fidelity)
-The @USArmy owns 15% of FNMA directly,7% through Mutual Funds & ETF,because that's the position of Vanguard/BLK,the 2 institutions that I bet are used by @DeptofDefense/ Congress to buy stocks & boost the GDP:Pagliara👇
Read 12 tweets
10 Jan
PROPOSED ORDER IN @SCOTUS
1-$160b @USTreasury refund.@TheJusticeDept pays $19b Moral Damages
2-Congress puts the UST backstop where it belongs
3-@FHFA,dissolved.HUD takes control,like since the 1968 $FNMA privatization(request reports,etc)
4-The Conservatorship is...#Fanniegate
handed out to a Justice.FnF released in 2 days after the final decision: the JPS are refinanced(3.5%)& regrouped.FnF resume indep operations.
5-Accountability
Criminal:the SEC Chairman that ignored my complaints,the FHFA's Dtrs,CFOs,etc
Political:Pelosi, Shelby,Warner, Waters,etc
The SPS(repaid in 2013/2014 FMCC/FNMA,resp,under the Secret Plan)& the Warrant(collateral of the SPS-to protect the taxpayer-eliminated back then),cancelled in 4.
The cumulative SPS get a 0% rate due to the (illegal)collateral.
Moral Damages:
$10
$9
$5
$3.5
Read 6 tweets

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